Litecoin (LTC) is the 6th rank cryptocurrency at a market cap of $9.77 Billion on coinmarketcap.com. Most individuals in the cryptosphere believe it as a bright future as a silver to Bitcoin (BTC). As one of the earliest cryptocurrency that is still around with tremendous popularity ever so more. Created on October of 2011 with one purpose to be the silver of bitcoin with faster transaction speed. As Litecoin (LTC) achieved the goal it was put upon to serve as the silver of Bitcoin (BTC)?
I do not believe Litecoin (LTC) as a promising future as an investment, not only because of it only use case as a faster bitcoin. It as under-performed through multiple bull run in the space. As of now, Litecoin (LTC) has been under 50% since its all-time high of 0.044 BTC on November 28, 2013. Litecoin (LTC) market cap has increasedby 750% since it all time high and yet the satoshi price is currently below the all-timehigh of 0.044 BTC at 0.0174 BTC at the time of writing.
Litecoin One Dimensional Use Case
Litecoin (LTC) serving as an alternative to Bitcoin (BTC) doesn’t cut it anymore. Bitcoin (BTC) scaling issue is currently being addressed with the implementation of the Lightning Network, headed by Elizabeth Stark. Also, there are multiple projectsthat are serving an alternative purpose to Bitcoin (BTC). Ethereum (ETH) providing smart contract and decentralize application Dapps, Stellar lumens (XLM) fast transaction speed with banks. Ripple (XRP) serving as a bank crypto (XRP), and Monero (XMR) serving as privacy coin. In desperation, Litecoin (LTC) is trying to add additional use case unto a dying crypto, Litepay a visa card. Bitcoin (BTC)outperformed Litecoin (LTC), in fact, every major cryptocurrency has outperformed Litecoin (LTC).
Crypto Investor Values Satoshi over USD Value
Since every cryptocurrency is priced by Bitcoin Satoshi, Litecoin, as an altcoin, should have increased in pricing since 2013. It has failed to do just that.
Charlie Lee Litecoin Departure
I sincerely believe Charlie Lee saw the end of the road for Litecoin (LTC) and decide to sell. A Litecoin (LTC) use case just isn’t there.